A craft store makes baskets for $12.50 and sells them for $16.75. what is the percentage markup on each basket based on cost?

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asked by Chudy
  1. profit = 16.75-12.50 = ...

    Percentage markup based on cost
    = profit/12.5* 100 %
    = ...

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    posted by Reiny
  2. Total Cost: $12.50 > old price
    Selling Price: $16.75 > new price

    (selling price - total cost)/ total cost

    16.75 - 12.75 = 4.25
    4.25/12.50 = 0.34 > move decimal two places the right, or multiply 0.34 x 100

    Answer: 34%

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    posted by Chelle

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